Nigerian Breweries seals 100% Distell acquisition

Nigerian Breweries Plc has completed the acquisition of the remaining 20 per cent stake in Distell Wines and Spirits Nigeria Limited, securing full ownership of the company.

In a regulatory filing with the Nigerian Exchange Limited by the company secretary, Uaboi Agbebaku, on Wednesday, the company said the acquisition follows the execution of a sale and purchase agreement with DWSN’s minority shareholders, Ekulo International Limited and Next International Nigeria Limited, which each held a 10 per cent stake.

The company stated, “Nigerian Breweries Plc hereby notifies the Nigerian Exchange Limited, its shareholders, and the investing public that it has acquired the remaining 20 per cent shareholding in Distell Wines and Spirits Nigeria Limited.”

It noted that the full acquisition would simplify decision-making and accelerate its expansion beyond the beer market. The company had previously acquired an 80 per cent majority stake in DWSN in June 2024.

To enhance production capacity, Nigeria Breweries said DWSN’s operations had been relocated from a rented facility to its own premises.

According to the statement, this move would enable DWSN to benefit from economies of scale and strengthen its position in the wines, spirits, and ready-to-drink segments.

“This acquisition marks a strategic step in our ambition to expand beyond beer, drive operational efficiency, and strengthen our position in the wines and spirits market,” NB stated.

The PUNCH reported that Guinness Nigeria Plc has reaffirmed its commitment to remaining a publicly listed entity on the Nigerian Exchange despite the ongoing Mandatory Takeover Offer by N Seven Nigeria Limited, a subsidiary of Tolaram Group.

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